New Year's Resolutions for the Modern Landlord

by Kevin Smith Author

As a landlord, you may be nervous about the residential property management cost in Charlotte, NC. However, working with a qualified property management company is going to be immensely helpful in meeting your goals for the new year. Many people set personal and professional goals at the beginning of the year. As a landlord, you can look forward to a more prosperous year with some of these worthy new year’s resolutions for your units.

Review Your Lease Agreements

At the beginning of the year, review the leases you have with your tenants. Get together with your lawyer and make sure your lease terms are specific and tailored appropriately to each property and tenant. It may be a good time to review similar rental properties in the area to determine if your rental prices need to be adjusted.

Start an Emergency Fund for Your Property

You should have a personal emergency fund for rainy days and unexpected expenses, but you should also have one that’s dedicated to your rental property. Any repairs or replacements that need to be done at your rental can come out of this fund, and your tenants will appreciate that you’re working to keep the property up and in good shape.

Get a Long Overdue Project Done

Whether you have one rental property or a dozen, there is probably a project that needs to be done. Maybe it’s a new roof or windows in one of your units, or maybe it’s an improvement such as solar to save money on utilities. Whatever it is, commit to completing it this year rather than wait another year to take the plunge.

Find a Property Management Firm

One of the best things you can do as a landlord is hire a property management company. They will take a percentage of your rent for a fee, but the value you get for what you pay makes this one of the smartest landlord decisions you can make. You’ll have more time to do the things you love, more time with friends and family, and can eliminate a lot of stress.

As a landlord, you can make your own life easier as well as improve the lives of your tenants by setting some measurable new year’s resolutions this year. A property management company can help you significantly when it comes to reaching your goals. Reach out to the crew at T.R. Lawing for the best residential property management cost in Charlotte, NC.